Do you know the roles of a finance manager in an organization?
Every company or business organization, requires the availability of funds to function effectively.
This best communicates the importance of finance in business. But considering the importance of finance management, comes a pointer to the finance manager.
In this article, we will look at the basic and important roles of a finance manager in an organization.
Who Is A Finance Manager?
A finance Manager is an individual or a business official who manages the financial department of an organization.
A finance manager is an important person in a company or an organization, who oversees the financial activities of an organization to ensure it’s health condition.
We can go on and on, but will still point to the same things; the organization and the finance involved.
So the manager ensures the availability of funds to finance the activities of the organization.
While putting up the definition structure, we realize that in defining a finance manager, we define his or her functions or roles.
But let’s look at three major roles of a finance manager in an organization.
Roles Of A Finance Manager In An Organization
Below are three of the basic roles of a finance manager in an organization.
Almost every aspect of any business, requires financial contributions to enhance its success.
It is the role of a finance manager to plan the financial activities not limited to profit planning only but expenditure also.
In this case, there is need for setting goals, analyzing, planning, implementing plans and monitoring/modifying to ensure maximum achievement with regards to the organization’s requirements.
Another role of a finance manager in an organization is to invest funds.
A good finance manager seizes opportunities to invest funds in products and services to ensure more quality returns for the organization.
Do you still remember the saying that you need money to make money?
It’s the role or responsibility of a finance manager to ensure that money is used to make more money. And this (investment) is where it happens!
The finance manager analyses the market for profitable marketing opportunities to invest into. Thereby, getting financial benefits in return for the organization.
The third roles of a finance manager on this list is to finance the business or organization involved.
This is another important area of a business or organization. When an organization is in need of funds to do a thing or another, the finance manager comes in.
It is the responsibility of the finance manager to fund and manage the financial aspects of the company’s projects.
There are certainly more roles of a finance manager to be discussed. But the above listed are three of the major roles of a finance manager in an organization.
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